Browsing category archives: Loan

Back in the day, the business of pawn shops was rather shady. People would sulk in corners and creep through alleys just to get to a pawn shop where they can sell items in exchange for some cold hard cash. Some of these items may have been pre-loved, some are no longer needed, and then there are those which are treasured but money was more important on that occasion.

Pawn shops have existed for decades and carry the reputation of being the place for sub-par quality not to mention stolen goods. But this, especially today, is a misconception that needs to be removed from the equation. In modern times, the business of pawn shops is legitimate and highly regulated. Pawn shop like Major Pawn cater to the needs of individuals who are in need of a quick supply of cash.

We at Major Pawn also provide collectors with access to an assortment of valuable bric-a-brac.

You might be wondering what Major Pawn is and why businesses like ours are becoming increasingly popular as the years pass by. Well, it is an advantage that we can accommodate sellers of various products from oddities to collectibles to gems and the traditional gold and silver. Unlike other establishments, the transactions that happen within a pawn shop’s walls are fast but legitimate. There is relatively little hassle that comes with selling treasured belongings for tiny sums of money.

In the recent decade, this popularity may also be attributed to the creation of TV shows specifically chronicling the operations of such businesses. As these television programs present, people of varying interests almost always find things that are of use to them in pawn shops. On the other hand, it is also a facility where those who are in need of some quick cash can score their funding requirements in a matter of minutes.

We at Major Pawn, much like other pawn shops, are in the business of spot trading. Most of our clients are those who require emergency funds. And then there is also the market of collectors. These people have the option of selling something of value, say gold, silver, or gemmed jewelry to name a few, in exchange for a discounted but reasonable rate. Unlike other buyers, we process transactions in a matter of minutes. As soon as the products check out as authentic, an offer is immediately made. Pawn shops also offer pawning, the exchange of goods for money over a set period of time after which the client has the option to retrieve the items by paying the pawned amount plus interest.

These two are the primary functions of establishments like ours but these days, there is more to what we can do and accommodate. A rather new concept that is being practiced across pawn shops is the consignment option. Businesses operate to generate profits but there are times when establishments like ours cannot accommodate a sale. Basically, there is no money to be made from the deal or the business may end up on the losing side of things should the item fail to resell. Here is where the consignment agreement becomes advantageous.

The way consignment works is that a client puts an item for sale inside a pawn shop. There is an agreement that if the item sells (to another client) then the pawn shop will get a part of the profits as payment for store space and the rest goes to the owner of whatever it is that was consigned. With another possible way to accommodate those who need a quick buck, more people are transacting with pawn shops across continents.

When it comes to businesses like ours at Major Pawn, our popularity can be attributed to the fact that people, our clients, can sell almost anything for as long as we see value in what they are offering. By meeting this simple condition, those who pawn items or those who sell them can get their money on the same day without the need for a ton of paperwork. Those who resort to pawning can claim their treasured possession once they repay their loan and those on consignment can be retrieved, if not sold, by settling the agreed upon percentage with the pawn shop covering storage and display costs.